Number
141234
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution relating to the allocation of funds from the Housing Trust Fund.
Analysis
As authorized by the City of Milwaukee's Housing Trust Fund Advisory Board, the Community Development Grants Administration released Requests for Proposals for affordable housing projects on September 5, 2014. Based upon funding applications submitted by the September 22, 2014 deadline, the Advisory Board is recommending the Common Council approve funding 6 projects totaling $600,000 from the Housing Trust Fund - Capital Improvement Account.
Body
Whereas, On November 14, 2006, the City of Milwaukee Common Council adopted File Number 041537, an ordinance relating to the establishment, operation and funding of a City of Milwaukee Housing Trust Fund; and
Whereas, On September 26, 2006, the Common Council adopted File Number 060071, a resolution relating to the recommendations of the Milwaukee Housing Trust Fund Task Force for the operation and funding of a Housing Trust Fund, which included provisions that Housing Trust Fund dollars should be allocated in 3 categories: housing and services for persons who are homeless, development or rehabilitation of affordable rental housing, and creation or maintenance of home ownership activities; and
Whereas, As authorized by the Housing Trust Fund Advisory Board, the Community Development Grants Administration (CDGA) released Request-for-Proposals on September 5, 2014 for the categories of Homelessness ($150,000), Rental Housing ($210,000) and Homeownership ($150,000) and Other Needs as Identified ($90,000) for a total amount available of $600,000. CDGA received 14 funding requests by the September 22, 2014 deadline; and
Whereas, CDGA staff, and the Technical Review Subcommittee met on November 12, 2014 and November 25, 2014 and the Housing Trust Fund Advisory Board, met on December 11, 2014 and reviewed the funding applications, and recommended funding for 6 projects totaling $600,000 as listed in Attachment A; and
Whereas, In accordance with Section 316-5-2-a and b of the Milwaukee Code of Ordinances relating to the duties of the Housing Trust Fund Advisory Board, the Advisory Board is recommending to the Common Council approval of the allocation of $600,000 for the 6 projects listed in Attachment A; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the award of $600,000 from the Housing Trust Fund Account ($600,000-Capital Improvement Fund Account Number 0339 1510 R999 UR044140102) to the 6 projects listed in Attachment A is approved; and, be it
Further Resolved, That each organization so awarded shall comply with the Housing Trust Fund Advisory Board's policies and procedures; and, be it
Further Resolved, That each of these Housing Trust Fund awards are subject to the successful negotiations of the term sheet with the City of Milwaukee; and, be it
Further Resolved, That upon the agreement of the term sheet, CDGA is hereby authorized to execute contracts for the awards as listed on Attachment A.
Requestor
Drafter
CDGA-HsgTrust-2014
12/12/14